(Worthy News) – Americans gave less to charity in 2018 than a year earlier, following changes in the tax law and fourth-quarter declines in the stock market, according to a new report.
Charitable giving by individuals America fell 1.1% to $292 billion in 2018 compared with 2017, according to Giving USA. Because giving by foundations and companies increased, total giving in the U.S. increased slightly, by 0.7%, to $428 billion.
The decline in giving by individuals comes after the new Republican-backed tax law, which took effect in 2018, reduced the tax incentives of giving for many households. The law signed by President Donald Trump doubled the standard deduction for families to $24,000, meaning far fewer households itemized and took a deduction for charity. [ Source: CNBC (Read More…) ]
We're being CENSORED ... HELP get the WORD OUT! SHARE!!!
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.
